Geode Capital Management LLC Purchases 110,791 Shares of Four Corners Property Trust, Inc. $FCPT

Geode Capital Management LLC lifted its position in Four Corners Property Trust, Inc. (NYSE:FCPT) by 4.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,852,968 shares of the financial services provider’s stock after buying an additional 110,791 shares during the quarter. Geode Capital Management LLC’s holdings in Four Corners Property Trust were worth $65,800,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in FCPT. Northwestern Mutual Wealth Management Co. grew its stake in shares of Four Corners Property Trust by 20,354.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,615,583 shares of the financial services provider’s stock valued at $106,435,000 after buying an additional 4,593,018 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Four Corners Property Trust by 1,071.8% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,334,779 shares of the financial services provider’s stock valued at $30,780,000 after buying an additional 1,220,871 shares in the last quarter. Callodine Capital Management LP bought a new stake in shares of Four Corners Property Trust in the 3rd quarter valued at approximately $18,673,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Four Corners Property Trust by 444.7% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 653,350 shares of the financial services provider’s stock valued at $15,942,000 after buying an additional 533,408 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in shares of Four Corners Property Trust by 23.9% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,159,994 shares of the financial services provider’s stock valued at $58,125,000 after buying an additional 417,134 shares in the last quarter. Institutional investors own 98.66% of the company’s stock.

Insider Transactions at Four Corners Property Trust

In other news, CEO William H. Lenehan bought 3,961 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were acquired at an average cost of $25.23 per share, for a total transaction of $99,936.03. Following the purchase, the chief executive officer owned 775,696 shares of the company’s stock, valued at $19,570,810.08. This represents a 0.51% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.20% of the company’s stock.

Four Corners Property Trust Stock Performance

NYSE:FCPT opened at $24.49 on Tuesday. Four Corners Property Trust, Inc. has a 1 year low of $22.78 and a 1 year high of $28.11. The firm’s fifty day simple moving average is $24.78 and its 200 day simple moving average is $24.49. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $2.69 billion, a PE ratio of 21.86 and a beta of 0.80.

Four Corners Property Trust (NYSE:FCPT) last posted its earnings results on Wednesday, April 29th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.14). Four Corners Property Trust had a net margin of 38.74% and a return on equity of 7.38%. The firm had revenue of $78.17 million during the quarter, compared to analyst estimates of $73.34 million. During the same quarter in the previous year, the business posted $0.44 earnings per share. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Four Corners Property Trust, Inc. will post 1.75 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on FCPT. Barclays boosted their price target on Four Corners Property Trust from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 21st. Citigroup reissued a “market outperform” rating on shares of Four Corners Property Trust in a report on Monday, June 1st. BMO Capital Markets initiated coverage on Four Corners Property Trust in a research note on Friday, April 17th. They issued a “market perform” rating and a $27.00 price objective on the stock. Citizens Jmp upgraded Four Corners Property Trust from a “market perform” rating to an “outperform” rating and set a $28.00 target price for the company in a report on Wednesday, March 25th. Finally, Raymond James Financial decreased their target price on Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating for the company in a research report on Tuesday, March 17th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $28.13.

Four Corners Property Trust Profile

Four Corners Property Trust is a publicly traded real estate investment trust focused on acquiring and managing single-tenant commercial properties subject to long-term, triple-net leases. The company targets industrial, manufacturing, distribution, office and retail facilities leased to creditworthy tenants. By concentrating on net-lease structures, Four Corners seeks to generate stable, predictable income streams and mitigate operating cost variability.

The firm’s core activities include sourcing off-market and broker-sourced acquisition opportunities, conducting rigorous credit and property due diligence, and structuring lease agreements that shift property taxes, insurance and maintenance expenses to tenants.